⚡What does Salesforce do, in 30 seconds?
Salesforce sells software by subscription that helps businesses sell, serve and market to their customers, now with AI agents 19 1 1 1 19. It sold $41.5bn ✓ in FY2026, the year to 31 January 2026 19. Service was its biggest line, at 24% ✓ of sales.
📱What does Salesforce sell?
Salesforce has six product lines, and the biggest, Service, made up 24% ✓ of sales in FY2026. Here is what each one does and who uses it.
Service
Software for customer service, IT help desks and field service, all on one AI platform 1. Its AI agents route cases, answer customers using company data and sum up support cases 1. It brought in $9.8bn ✓ in FY2026.
👥 Companies' customer service, IT and field service teams 1.
Sales
Tools that help sales teams find buyers, keep in touch with them, work together, track results and handle orders 1. Every seller also gets an AI agent 1. This line made $9.0bn ✓ in FY2026.
👥 Sales teams at companies 1.
Platform, Slack and other
The platform lets companies build their own apps, workflows and AI agents with little or no coding 13. Slack, the chat app, sits here too 14. So does Informatica, a data company bought in November 2025, which added $388 million of FY2026 subscription and support revenue 14. The line made $8.9bn ✓ in FY2026.
👥 Businesses of all sizes, in almost every industry 5.
Integration and analytics
MuleSoft connects a customer's many systems and data, and Tableau turns data into charts and insights 1. This line brought in $6.2bn ✓ in FY2026.
👥 Companies that need to connect their systems and make sense of their data 1.
How the mix has shifted
Where the customers are
The Americas bring in most of Salesforce's sales, at 65% ✓ in FY2026. About 93% of that came from the United States 4. Europe added 24% ✓ and Asia Pacific 10% ✓. Salesforce sorts sales by which of its companies signs the contract 4.
💸How does Salesforce make money?
Follow the money from left to rightfrom top to bottom: what customers pay for, what it costs to make, and what is left as profit.
Salesforce sold $41.5bn ✓ of software and services in FY2026. Running those services cost $9.3bn ✓. What is left is gross profit, the money kept after paying for what was sold. That came to $32.3bn ✓.
Next come the costs of running the company. Sales, marketing and admin took the most, at $17.3bn ✓. Research and development took $6.0bn ✓, and other costs took $0.6bn ✓. That left operating profit, the profit from the main business, of $8.3bn ✓. Other income of $1.2bn ✓ was added, and tax took $2.1bn ✓. Net income was $7.5bn ✓. Put simply, out of every hundred dollars of sales, Salesforce kept about $18 ✓ as profit.
Out of every $100 customers paid in FY2026…
Interest, investment gains and other income added +$3 for every $100 of sales, so the slices above add up to a little more than $100.
⏱️ Salesforce by the clock
Spread the FY2026 totals evenly over its 365 days and you get this. Source: Salesforce, Inc. 10-K [6].
📈How is Salesforce doing?
Salesforce has grown every year for a decade, but growth has slowed while profit has risen. From FY2016 to FY2026, sales grew 20.1% ✓ a year on average. They rose in 10 ✓ of those 10 ✓ years. Growth was 24.7% ✓ in FY2022 but 9.6% ✓ in FY2026. Operating margin was just 3.3% ✓ in FY2023. It jumped to 14.4% ✓ in FY2024, and in FY2026 it reached 20.1% ✓. Salesforce has cut staff, offices and data centers in some markets to lift its margin 19.
The latest four quarters, to 31 July 2026, show a small pickup. Sales reached $43.9bn ✓, up 11.2% ✓ on the four quarters before. Bought firms add to growth: Informatica brought in about $399 million of total FY2026 revenue 1923. Operating margin was 19.9% ✓, and free cash flow was $15.2bn ✓. For FY2027, which ends on 31 January 2027 23, Salesforce guided revenue of $46.1 billion to $46.4 billion, up 11% to 12% 23.
📝 The report card
Salesforce earns top marks for cash, fair marks for steadiness, middling marks for growth and profit, and a weak mark for its balance sheet. Every company is graded on the same fixed scale, so an A means the same thing on every page. The strip shows where Salesforce (orange) and its 4 peers land; further right is better.
Growth
Salesforce's sales grew 9.8% ✓ a year over its last three fiscal years, which earns a C ✓ on the fixed scale. That ranks it 5 ✓ of 5 ✓ in this group. ServiceNow grew 22.4% ✓ a year over its own latest three years, good for an A ✓.
Why this measure? (higher is better)
Growing sales is the engine of a business. Mature giants rarely grow fast, so 5% a year already earns a C.
Profitability
Over the last three years combined, Salesforce kept 18.0% ✓ of sales as operating profit, which earns a C ✓. The peer median is 32.2% ✓, and Microsoft keeps 45.8% ✓. ServiceNow also earns a C ✓, at 11.9% ✓.
Why this measure? (higher is better)
Operating margin is the share of each sales dollar left after running the business. Software and platforms often clear 30%; hardware makers usually sit below 10%.
Cash generation
Over the last three years combined, Salesforce turned 31.8% ✓ of sales into free cash flow, comfortably an A ✓. Adobe did better, at 38.1% ✓. Oracle spent more than it took in, at -6.9% ✓, which earns an F ✓.
Why this measure? (higher is better)
Free cash flow is the cash left after paying for factories, data centres and equipment. It funds dividends, buybacks and new bets.
Balance sheet
At the end of FY2026, Salesforce's cash and investments minus its borrowings (leases and stakes in other companies not counted) equalled -11.7% ✓ of a year's sales. That earns a D ✓. Borrowing has grown since then: in March 2026 Salesforce sold $25 billion of new notes 11. By 31 July 2026, net cash had fallen to -$27.9bn ✓, which means its borrowings were larger than its cash and investments.
Why this measure? (higher is better)
More cash than debt gives a company room to ride out bad years. Some debt is normal; a lot of it makes a company fragile.
Steadiness
Salesforce's yearly growth swings a little more than its peers', with a swing score (standard deviation) of 7.7% ✓. That earns a B ✓. Growth slowed from 24.7% ✓ in FY2022 to 8.7% ✓ in FY2025. Microsoft's figure is just 4.2% ✓, an A ✓.
Why this measure? (lower is better)
Steady growers are easier to plan around. Big swings mean sales depend on product cycles, the economy or one-off events.
🧑🏫 How the grades work
- Same scale for everyone. Each measure has fixed cut-offs (shown under each strip). Clear the A line and you get an A, whatever your peers do.
- Three years together. Profitability and cash generation add up the last three fiscal years before dividing, so one unusual year counts for less than it would on its own (a year much bigger than the others still weighs most).
- Peers for context. The rank shows how Salesforce compares with the group. Companies within 0.1 percentage point share a rank.
- Same source. Every company's figures come from its own latest annual report (10-K), so fiscal years end in different months.
- Judgement, openly stated. The cut-offs are QuantVantage.ai's view of what good looks like for a large, established company. They are not a forecast or a recommendation.
11 years at a glance
Where the cash goes
Over the years from FY2016 to FY2026, Salesforce kept more cash than it handed back. It made $63.8bn ✓ of free cash flow and spent $35.2bn ✓ on buybacks and dividends. Payouts have grown fast, though. In FY2026 alone they equalled 98% ✓ of free cash flow, with $12.6bn ✓ of buybacks.
🧮Ratios 101: what are Salesforce's key financial ratios?
Ratios shrink Salesforce's big numbers into easy comparisons, and a few look odd until you know it usually bills customers a year ahead 1921. A ratio divides one number by another so companies of any size can be compared. Each card shows the formula with Salesforce's real FY2026 numbers, the peer median and the trend.
💰 Profitability: how much of each sale is kept?
Gross margin
What is left from each sale after paying to make the product or deliver the service.
👉 At 77.7% ✓, up from 75.2% ✓ in FY2016, Salesforce sits above the 72.7% ✓ peer median, though Adobe keeps 89.3% ✓.
📏 Rule of thumb: Above 40% usually signals pricing power or a big software or services mix.
Operating margin
What is left after also paying for research, marketing and running the company.
👉 Salesforce's 20.1% ✓ is far above the 1.7% ✓ of FY2016, but well below the 33.6% ✓ peer median.
📏 Rule of thumb: Above 20% is strong for a large company.
Net margin
The bottom line: profit after interest and taxes, per dollar of sales.
👉 Salesforce keeps 18.0% ✓ of sales as final profit, against -0.7% ✓ in FY2016 and a 27.7% ✓ peer median.
📏 Rule of thumb: Above 15% is strong; one-off tax items can move it in a single year.
Return on equity (ROE)
Profit earned for each dollar that shareholders have left in the company.
👉 ROE of 12.6% ✓ is about a third of the 35.2% ✓ peer median. Shareholders' equity is large, at $59.1bn ✓.
📏 Rule of thumb: Around 15% or more is good, but buybacks shrink equity and can make ROE look huge.
⚙️ Efficiency: how hard do the assets work?
Return on assets (ROA)
Profit earned from everything the company owns, however it was paid for.
👉 ROA of 6.6% ✓ is about half the 12.2% ✓ peer median, but far better than -0.4% ✓ in FY2016.
📏 Rule of thumb: Above 10% is strong; banks and factories usually earn less.
Asset turnover
Dollars of sales squeezed out of each dollar of assets.
👉 Salesforce's sales are 0.4x ✓ the value of what it owns, just under the 0.5x ✓ peer median and its own 0.5x ✓ in FY2016.
📏 Rule of thumb: Retailers often top 2x; asset-heavy businesses can sit below 0.5x.
🛟 Safety: could it survive a bad year?
Current ratio
Can short-term assets (cash, money owed by customers, stock) pay the bills due within a year?
👉 At 0.8x ✓, short-term assets fall short of bills due within a year, below the 1.1x ✓ peer median. Salesforce usually invoices a year in advance 1921.
📏 Rule of thumb: Above 1.0x is the classic comfort line, but cash-rich giants can run below it on purpose.
Debt to equity
How much the company has borrowed for each dollar shareholders have in it.
👉 Debt was 0.2x ✓ equity at the end of FY2026, below the 0.3x ✓ peer median. Salesforce sold $25 billion of new notes in March 2026, after that year ended 11.
📏 Rule of thumb: Below 1.0x is conservative. Like ROE, it can rise when buybacks shrink equity, even if debt has not changed.
Interest cover
How many times over operating profit could pay the year's interest bill.
👉 Operating profit covered interest 25.7x ✓ in FY2026, up from 1.6x ✓ in FY2016 but below the 33.1x ✓ peer median.
📏 Rule of thumb: Above 5x is comfortable; below 2x is a warning sign.
💵 Cash and owners: where does the money end up?
Cash conversion
Does reported profit turn into real cash? Free cash flow is operating cash minus capital spending.
👉 Salesforce turns profit into cash at 1.9x ✓, about double the 0.9x ✓ peer median. Profit is cut by $3.5bn ✓ of stock pay, which uses no cash. Salesforce also usually bills customers before the service period, so much of its cash arrives early 19.
📏 Rule of thumb: Near or above 1.0x means profits are backed by cash.
R&D intensity
How much of each sales dollar goes into inventing future products.
👉 Salesforce spends 14.4% ✓ of sales on R&D, close to 14.2% ✓ in FY2016 and just under the 16.7% ✓ peer median.
📏 Rule of thumb: Tech companies often spend 10% to 20%; more is not always better if it does not pay off.
Stock pay
Pay given to staff in shares instead of cash. It is a real cost to owners because it adds shares.
👉 Stock pay is 8.5% ✓ of sales, a bit above the 7.7% ✓ peer median and close to 8.9% ✓ in FY2016.
📏 Rule of thumb: Under 5% of sales is modest for a tech company.
Shareholder payout
How much of the year's profit was handed back to owners.
👉 Salesforce returned 190.2% ✓ of FY2026 profit to shareholders, far above the 70.8% ✓ peer median. Measured against free cash flow, the payout was 98% ✓.
📏 Rule of thumb: Above 100% means it returned more than it earned, using cash savings or debt.
Ratios use fiscal-year-end balance sheet values. Inputs are shown rounded, so dividing them can differ from the result in the last digit. A peer median leaves out peers that do not report the inputs, or where the ratio means nothing (for example, negative shareholders' equity). Rules of thumb are general guides from QuantVantage.ai, not hard limits. No share-price ratios (like price-to-earnings) are shown on this page.
🥊Who are Salesforce's competitors?
Salesforce competes with big software makers across sales, service, marketing and workplace chat 13114 171. Microsoft, Oracle and ServiceNow sell rival customer software, and Adobe competes for marketers 13114 15 161 171. Salesforce says its market has low barriers to entry 5.
| Company | Where they compete | Revenue | Growth/yr (3y) | Op. margin | FCF margin |
|---|---|---|---|---|---|
| Salesforce (CRM, FY2026) | Software for sales, service, marketing, commerce, data and AI agents, plus Slack 1 1 14 1 | $41.5bn | 9.8% | 20.1% | 34.7% |
| Microsoft (MSFT, FY2026) | Dynamics 365 customer software against Sales and Service; Microsoft Teams against Slack 13114 | $331.8bn | 16.1% | 46.8% | 20.2% |
| Oracle (ORCL, FY2026) | Fusion Cloud software for sales, service and marketing; Oracle's 10-K names Salesforce as a direct rival 15 | $67.4bn | 10.5% | 30.6% | -35.2% |
| ServiceNow (NOW, FY2025) | Customer service, field service and sales software; ServiceNow's 10-K names Salesforce as a rival 161 | $13.3bn | 22.4% | 13.7% | 34.5% |
| Adobe (ADBE, FY2025) | Software that unifies customer data and runs personal marketing journeys 171 | $23.8bn | 10.5% | 36.6% | 41.4% |
Palantir also sells platforms for building AI agents and workflows on a company's own data, as Salesforce does with Agentforce and Data 360 321. Salesforce also names AI-native start-ups, and companies that give software away free or bundled with other products 5. In Europe, after a complaint by Slack, regulators made binding Microsoft's promise to sell its office suites without Teams at a lower price, in September 2025 14.
🧭Salesforce SWOT: strengths, weaknesses, opportunities and threats
💪 Strengths
- Customers tend to stay: Salesforce lost about 8% of contract value a year at 31 January 2026, not counting Slack self-service and new acquisitions 19. The rate was still about 8% at 31 July 2026 20.
- At 31 January 2026 it had about $72.4 billion of signed revenue still to deliver, up 14% 19.
- Over the last three years combined, Salesforce turned 31.8% ✓ of sales into free cash flow, an A ✓ on our report card.
- No single customer made up more than 10% of revenue in FY2024, FY2025 or FY2026 5.
- Its 10-K says it has become the top provider of CRM software worldwide 518.
🩹 Weaknesses
- Over the last three years combined, operating margin was 18.0% ✓, well below the 32.2% ✓ peer median.
- Growth has slowed, from 24.7% ✓ in FY2022 to 9.6% ✓ in FY2026.
- Buybacks in 2026 were paid for partly with debt 2211, and net cash was -$27.9bn ✓ at 31 July 2026, so it owed more than it held.
- Salesforce says it has limited experience pricing Agentforce and Data 360 by usage, so customer use may fall short of its hopes 21.
🚀 Opportunities
- Agentforce yearly recurring revenue passed $1.5 billion in the quarter to 31 July 2026, up more than 240%, on a wider measure that now includes Slackbot 23.
- Industry versions of its products, for financial services, healthcare and government, reached $6.6 billion of yearly recurring revenue at the end of FY2026, up nearly 20% 124.
- Salesforce has said it expects to reach $63 billion of revenue in fiscal 2030 24.
- It bought Fin, an AI customer service agent used by more than 30,000 companies, in September 2026 2526.
⚠️ Threats
- Salesforce calls its market highly competitive, with AI-native start-ups and rivals that give software away free or bundled 5.
- Microsoft sells Dynamics 365 against Sales and Service, and Teams against Slack 13114.
- Salesforce says customers could cut users or move to cheaper products, which could raise its attrition 21.
- Part of its growth comes from buying firms: Informatica accounts for just over 3 points of its FY2027 growth guidance 1923.
🏰Does Salesforce have a moat?
Why 4?
Salesforce promotes its name through big events such as Dreamforce, its Salesforce+ streaming service and campaigns, and its 10-K says it has become the top provider of CRM software worldwide 518. It sells to businesses of all sizes in almost every industry 5. Customers range from one paid subscription to hundreds of thousands each 5.
Why 4?
Salesforce lost about 8% of contract value a year at 31 January 2026, not counting Slack self-service and new acquisitions 19, and still about 8% at 31 July 2026 20. At 31 January 2026 it had about $72.4 billion of signed revenue still to deliver 19. Customers who use several of its products bring more revenue and leave less often than average 19.
Why 3?
Salesforce runs one shared copy of its software for many customers, which it says spreads the cost across its users 3. It delivers its services partly through outside cloud providers and partly through its own systems in data centers run by others 3. Rivals include firms that give software away free or bundled 5.
A moat is what keeps rivals from taking a company's customers and profits. Scores are QuantVantage.ai's judgement (5 = strongest), set with the same rubric on every explainer (orange is Salesforce; grey dots are peers).
🔭What should you watch next?
Results for the quarter to 31 October 2026
Salesforce guided revenue of $11.42 billion to $11.5 billion for the quarter, and growth of about 14% in contracted revenue due within a year 23. Figures on this page run to FY2026 and the four quarters to 31 July 2026.
📚Learn the words
❓Frequently asked questions about Salesforce
How does Salesforce make money?
Salesforce makes money mainly from software subscriptions, which were about 95% of revenue in FY2026 19. Service brought in $9.8bn ✓ and Sales $9.0bn ✓. Professional services and other made up 5% ✓.
What is Agentforce?
Agentforce is Salesforce's family of AI agents, which can respond, decide and act on their own 19. Salesforce launched it between August and October 2024 19. By July 2026, its yearly recurring revenue had passed $1.5 billion, on a wider measure that also counts Slackbot 23.
Is Salesforce's revenue still growing?
Yes, Salesforce's revenue is still growing, but more slowly than before. Sales rose 9.6% ✓ in FY2026 and 11.2% ✓ in the four quarters to July 2026. Over ten years, growth averaged 20.1% ✓ a year.
Who are Salesforce's biggest competitors?
Microsoft, Oracle, ServiceNow and Adobe all sell software that competes with parts of Salesforce 13114 15 161 171. Microsoft's Teams also competes with Slack 13114.
Who runs Salesforce?
Marc Benioff runs Salesforce. He co-founded it, chairs the board and has been CEO since 2001 18. Robin Washington is President and Chief Operating and Financial Officer 28.
Does Salesforce own Slack?
Yes, Slack is now owned by Salesforce 14. It is Salesforce's chat and teamwork app, and its sales sit in the Platform, Slack and other line 14.
🎮Play: higher or lower, then test yourself
Figures come from each company's latest annual report (10-K); fiscal years end in different months. Sources: [6] [7] [8] [9] [10].
🧠 Test yourself
5 quick questions. Score: 0 / 5
1. When was Salesforce founded?
2. Which Salesforce product line brought in the most money in FY2026?
3. What does Salesforce ask every employee to write each year?
4. Which quarter is usually Salesforce's strongest for new business?
🔎Sources and method
Every figure comes from a source listed here or is calculated from those sources (marked ✓). Company financials are taken from SEC filings (10-K and 10-Q) as tagged in XBRL. Peer grades rank the same measures across the company and its peers. This page contains no share-price data and no valuation.
- Salesforce Form 10-K for fiscal year 2026 (ended January 31, 2026) — Item 1 overview and service offerings (Sales, Service, Platform, Data 360, Informatica, Slack, Agentforce, Marketing, Commerce, Integration, Analytics, Industries); principal office (accessed 2026-10-29)
- Salesforce (CRM) Form 10-K for fiscal year 2026, filed 2026-03-02 — revenue and cost of sales by product, segment and geography (accessed 2026-10-28)
- Salesforce Form 10-K for fiscal year 2026 (ended January 31, 2026) — Item 1 business strategy, partner ecosystem, technology and operations (multi-tenancy, Hyperforce, cloud partners) (accessed 2026-10-29)
- Salesforce Form 10-K for fiscal year 2026 (ended January 31, 2026) — Note on revenue: subscription and support revenue by service offering and revenue by geography (accessed 2026-10-29)
- Salesforce Form 10-K for fiscal year 2026 (ended January 31, 2026) — Item 1 competition, customers, customer service and support, sales and marketing, intellectual property (accessed 2026-10-29)
- SEC EDGAR companyfacts: Salesforce (CRM) — annual 10-K facts (accessed 2026-10-28)
- SEC EDGAR companyfacts: MICROSOFT CORP (MSFT) — annual 10-K facts (accessed 2026-10-28)
- SEC EDGAR companyfacts: ORACLE CORP (ORCL) — annual 10-K facts (accessed 2026-10-28)
- SEC EDGAR companyfacts: ServiceNow, Inc. (NOW) — annual 10-K facts (accessed 2026-10-28)
- SEC EDGAR companyfacts: ADOBE INC. (ADBE) — annual 10-K facts (accessed 2026-10-28)
- Salesforce Form 8-K, March 13, 2026 (senior notes offering) — Item 1.01: senior notes issued in eight series due 2028 to 2066 (accessed 2026-10-29)
- SEC EDGAR companyfacts: Salesforce (CRM) — balance sheet at 2026-07-31 (accessed 2026-10-28)
- Microsoft Form 10-K for fiscal year 2026 (ended June 30, 2026) — Item 1: Dynamics 365 cloud CRM and ERP applications and agentic AI tools; Dynamics competition (accessed 2026-10-29)
- European Commission press release IP/25/2048: Commission accepts commitments offered by Microsoft related to Teams (September 12, 2025) — Teams commitments made binding; case followed a complaint by Slack, now owned by Salesforce (accessed 2026-10-29)
- Oracle Form 10-K for fiscal year 2026 (ended May 31, 2026) — Item 1: Fusion Cloud Customer Experience applications; competitors named, including Salesforce (accessed 2026-10-29)
- ServiceNow Form 10-K for fiscal year 2025 — Item 1: CRM and Industry products; competitors named, including Salesforce (accessed 2026-10-29)
- Adobe Form 10-K for fiscal year 2025 (ended November 28, 2025) — Item 1: Adobe Experience Platform, Journey Optimizer and competition for marketing solutions (accessed 2026-10-29)
- Salesforce Form 10-K for fiscal year 2026 (ended January 31, 2026) — Executive officers (Marc Benioff) and Item 5 dividend policy (accessed 2026-10-29)
- Salesforce Form 10-K for fiscal year 2026 (ended January 31, 2026) — Item 7 overview, fiscal 2026 highlights, fiscal year, segments, sources of revenue, attrition, remaining performance obligation, seasonality (accessed 2026-10-29)
- Salesforce Form 10-Q for the quarter ended July 31, 2026 — Item 2 overview and highlights for the first six months of fiscal 2027; attrition rate at July 31, 2026 (accessed 2026-10-29)
- Salesforce Form 10-K for fiscal year 2026 (ended January 31, 2026) — Item 1A risk factors: renewals and attrition, consumption-based offerings, intellectual property (accessed 2026-10-29)
- Salesforce commences $25 billion accelerated share repurchase (Form 8-K Exhibit 99.1, March 16, 2026) — Accelerated share repurchase: size, start date, initial share delivery (accessed 2026-10-29)
- Salesforce second quarter fiscal 2027 results (Form 8-K Exhibit 99.1, August 26, 2026) — Second quarter fiscal 2027 highlights, Agentforce and Data 360 metrics, third quarter and full-year fiscal 2027 guidance (accessed 2026-10-29)
- Salesforce fourth quarter fiscal 2026 results (Form 8-K Exhibit 99.1, February 25, 2026) — Fiscal 2026 highlights, Agentforce and Data 360 metrics, buyback authorization, dividend increase, fiscal 2027 outlook, FY30 revenue goal (accessed 2026-10-29)
- Salesforce Form 10-Q for the quarter ended July 31, 2026 — Business combinations note: Qualified, Contentful and Fin (accessed 2026-10-29)
- Salesforce investor news: Salesforce completes acquisition of Fin (September 10, 2026) — Fin acquisition completed; what Fin does; more than 30,000 customer companies (accessed 2026-10-29)
- SEC EDGAR companyfacts: Salesforce (CRM) — quarterly 10-Q/10-K facts (accessed 2026-10-28)
- Salesforce Investor Day presentation (Form 8-K Exhibit 99.1, September 16, 2026) — Investor Day held at Dreamforce 2026; President and Chief Operating and Financial Officer (accessed 2026-10-29)
- Salesforce news: Salesforce signs definitive agreement to acquire Contentful (with closing note) — Contentful deal announced June 1, 2026; completed September 1, 2026 (accessed 2026-10-29)
- Salesforce signs definitive agreement to acquire Braze (Form 8-K Exhibit 99.1, October 20, 2026) — Braze acquisition: enterprise value, what Braze does, customers, expected closing and conditions; NYSE listing (accessed 2026-10-29)
- Salesforce Form 10-K for fiscal year 2026 (ended January 31, 2026) — Item 1 human capital: employees, total rewards, V2MOM (accessed 2026-10-29)
- Palantir Form 10-K for fiscal year 2025 — Item 1: Foundry and AIP platforms; competition (accessed 2026-10-29)